US futures are pointing to a flat open as of 04:45 ET. European equity markets are higher, following a positive session in Asia. The CPI numbers are to take the spotlight today ahead of the Federal Reserve meeting. Core CPI expected to print at 4% y/y, and Headline CPI for November expected to come in unchanged as it did in October. Markets continue to price in a near-100% chance of a hold at the FOMC meeting.

Companies Mentioned: Google, Epic Games, Apple

US futures are pointing to a flat open as of 04:50 ET. European equity markets are slightly higher after a mixed and choppy session in Asia. China markets sold off first thing on poor inflation data only to recover in the afternoon although the Hang Seng stayed in the red. The main catalysts for this week mostly lie ahead as the US Fed, BoE, ECB and Swiss central banks are all due to meet.

Companies Mentioned: Cigna, Humana, Macy's, Li Ning

US futures are pointing to a slightly lower open as of 04:05 ET. European equity markets have opened in the positive territory, following mixed to higher levels in Asian markets. BoJ policy outlook remains a big story in cross-asset markets. Yen rally has dominated headlines as traders raised bets on BOJ tightening with markets now pricing in almost even chance of a December policy change.

Companies Mentioned: Micron Technology, Digital Realty, Blackstone

US futures are pointing to a flat open as of 04:05 ET. European equity markets have opened in the negative territory, following lower levels in Asian markets. Weak handover from Wall Street to Asian markets with the S&P 500 notching its first three-day losing streak since October on Wednesday. Some attention on the move in JGB yields and Japanese yen overnight.

Companies Mentioned: SpaceX, Sony

US futures are pointing to a higher open as of 04:05 ET. European equity markets have opened in the positive territory, following advanced levels in Asian markets. Soft US labor data provided further support to soft-landing, disinflation and peak Fed narratives. Markets also betting other central banks will join Fed in easing in 2024. Also thoughts that markets are becoming too optimistic in expectations of rate cuts, setting stage for disappointment.

Companies Mentioned: Apple, Allete

US equity futures are indicating a lower open as of 05:00 ET. This follows broad weakness in Asia, while European equity markets are mostly higher after moving off early lows. Moody's cuts China credit outlook to "negative". JOLTS and ISM Non-Manufacturing Index due to be released today.

Companies Mentioned: Johnson & Johnson, CVS Health

US futures are pointing to a lower open as of 04:05 ET, after US markets capped a fifth straight weekly gain. European equity markets have opened higher in narrow ranges, following mixed to weaker levels in Asian markets. Risk-on sentiment in full swing following remarks from Fed officials that led markets to price in multiple rate cuts in 2024, expecting a move as early as late Q1 2024.. With inflation tracking towards target, market debate now shifting towards timing and extent of next year's pivot.

Companies Mentioned: Hawaiian Holdings, Alaska Air Group, Google, Evergrande

US equity futures are indicating a higher open as of 05:00 ET. This follows mixed Asian trade, while European equity markets are higher. Fed Chair Powell will speak today, with the big question on whether he will endorse a less hawkish message. The macro data calendar is dominated by manufacturing PMIs. China Caixin manufacturing PMI unexpectedly returned to expansion in November.

Companies Mentioned: Microsoft, Apple, Google

US futures are pointing to a mostly flat open as of 04:45 ET. European equity markets have opened lower, following marginally higher Asian markets. No change in the broader narrative, with the latest gains attributed to dovish-leaning remarks from Fed Governor Waller on Tuesday. Market bets increasingly reflect expectations for a first Fed rate cut in May-24 with nearly 100bp in easing seen for the full year.

Companies Mentioned: Occidental Petroleum, Vista Outdoor, Dr. Martens

US futures are pointing to a higher open as of 04:05 ET. European equity markets have opened higher, following largely lower Asian markets. Bond market in focus with Treasury yields extending overnight drop and the dollar tracking for its largest monthly fall in a year, coming after the latest remarks from Fed officials, including a perceived dovish tinge to Governor Waller's comment suggesting possibility of rate cut.

Companies Mentioned: Apple, Goldman Sachs, American Express, Synchrony Financial, Okta